How Financial Institutions Can Leverage Artificial Intelligence for Efficiency
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As the financial services industry continues to evolve, efficiency has become a top priority. In order to maximize efficiency, stay competitive, and unlock new value streams, financial institutions (FIs) are leveraging the power of artificial intelligence (AI) throughout their business processes.
In nCino’s recent webinar, Intelligence Everywhere: A New Era of Efficiency in Banking, our industry experts evaluate AI strategies and assess the true ROI of integrating intelligence across the banking sector.
Our speakers, Danielle Pearson, Senior Business Value Consultant, Brett Dooies, Director of Product Management, and Kevin Keim, Senior Customer Success Manager, share valuable insights on the following topics:
The Development of Gen AI
The AI revolution began in the early 2000s with the adoption of cloud technology, which set the foundation for artificial intelligence. Two decades later, generative AI has developed into a groundbreaking product that is already transforming financial institutions around the globe.
Data Utilization
Leveraging AI to analyze and process both customer and industry data can give FIs a comprehensive view of opportunities and lead to improved operations.
“The fact is, banking is a text-heavy and document-intensive industry,” said Brett Dooies. “Even as we’ve digitized it, it remains that way. Gen AI is an amazing new tool in our belt to help our customers move through that information more quickly and efficiently.”
Opportunities for Intelligence
Harnessing the power of AI allows banks to unlock significant opportunities for improved efficiency. By enhancing processes, knowledge, and platform efficiency, institutions can drive overall operational excellence and competitive advantage.
The Benefits of AI Innovation
According to a recent Forbes article, 77% of bankers see unlocking the value of AI as a key competitive differentiator. This isn’t surprising—at nCino, we’ve seen many benefits when our customers implement our intelligent solutions such as Automated Spreading, Commercial Pricing & Profitability, and Banking Advisor. These include improvements in:
Customer and banker experience
Risk management, control, and compliance
Growth and competitive advantage
Efficiency and cost reduction
Expectations for Implementation and ROI
Successful implementation of Gen AI requires data standardization and foundational technology preparation. Once a FI is prepared with the right tools, the return on investment from integrated intelligence quickly becomes evident.
“Generative AI is really transforming the industry, and we’re excited to be at the forefront of this revolution,” said Danielle Pearson.
Artificial intelligence and generative AI are not only automating existing processes, but also recreating them from the ground up. With successful integration, FIs can achieve significant benefits throughout their business.
Watch the full on-demand webinar now to learn more.